|
|
 |
Credit Card Comparisons
Signing up for a credit card can be a major
financial decision; if you don't do your homework it can end up costing
more than it's worth. When you're shopping for a credit card, study the
numbers. You'll want to find out about the Interest Rate, annual fee,
grace period, and more. Consider the following questions before deciding
on any credit card:
- Is there an introductory rate? How
long does it last? Does it apply only to purchases, balance transfers,
or both?
- When the introductory rate ends, what
will my long-term rate be?
- Is there an application fee or other
processing fees when I sign up?
- Is there an annual fee? Is it possible
to have it waived the first year?
- What kinds of penalty fees apply? Are
there late fees, over-the-limit fees, or balance transfer fees?
- When and how will my variable Interest
Rate be changed?
- What is the grace period before
interest charges apply?
Card Selection
Two Australian credit cards with the same attractive interest rate can have vastly
different fees and other costs. One card may offer rewards or perks
that are appealing to you, while the other offers only credit. Think
about other services you may need, such as cash advances or balance
transfers. Some cards offer more favorable terms for these kinds of
transactions than others. Make
sure you choose a card that is worth what it costs you. You should
also consider whether the credit limit is high enough, how widely the
card is accepted, and the plan's other services and features
Be honest with yourself
What are
your actual financial habits and credit needs? The way you plan to pay
your bills is important when it comes to choosing a card. Carrying a
balance every month, instead of paying your balance in full, can
drastically change what you are shopping for. Likewise, the credit
limit, rewards programs, and other cardmember benefits you apply for
require thoughtful consideration. Don't pay extra for anything you
can't use, and don't over-extend yourself financially - it can lead to
major problems later on.
Consider your credit situation
Do you have good credit? Pat yourself on
the back and apply for one of the many low-interest, premium-level
(platinum or gold cards), or reward/rebate cards available.
Consider your spending habits
Will you be running up large bills and carrying a balance? A
low-interest card is a must-have. Will you be using your card often
but paying off your bill in full each month? A rewards card can be a
steal when you're not paying interest! Do you have difficulty handling
your credit responsibly? Aim for a card with a lower credit limit, which can help you learn good
habits without the danger of incurring excessive debts.
Consider Consolidating your debts?
Consolidating all your debts to a
low interest rate credit card,
personal loan or a
line of credit will give you one easy payment a
month and could save you $$$$$$$
Your Security?
All our online applications have direct secure links to
financial institution so you don't have to give your information to
a third party.
|
|
 |
|
|
|
|
